Just switched off my Antminer L3's today as they are currently unprofitable.

So I got that same email and was too busy to deal with it right away. When I did get around to looking at things I wanted to see how bad it was. Well, it turns out that there must have been some kind of outage on 25-October because there was a gap in rewards from 03:13 hours until 20:25 hours, then a bunch of rewards between 20:27 hours to 20:44 hours. The final total for the day was ~35% below the previous days and the subsequent days. Additionally, there was some weird behavior with the hosting fees such that the charges were ~50% higher than usual based on previous and subsequent days.

The semi-colon separated values file that you can download with the hosting fees, mining rewards, and wtt rental earnings was hard on the eyes so I wrote some python 3 code to break it down for me such that I have one line per day that shows all three values and a final column that shows me the net. It's not ready for prime time, but when it is I'll post the code here. It's about 20 lines of code, excluding blank lines and comments.

Just switched off my Antminer L3's today as they are currently unprofitable.

So I got that same email and was too busy to deal with it right away. When I did get around to looking at things I wanted to see how bad it was. Well, it turns out that there must have been some kind of outage on 25-October because there was a gap in rewards from 03:13 hours until 20:25 hours, then a bunch of rewards between 20:27 hours to 20:44 hours. The final total for the day was ~35% below the previous days and the subsequent days. Additionally, there was some weird behavior with the hosting fees such that the charges were ~50% higher than usual based on previous and subsequent days.

The semi-colon separated values file that you can download with the hosting fees, mining rewards, and wtt rental earnings was hard on the eyes so I wrote some python 3 code to break it down for me such that I have one line per day that shows all three values and a final column that shows me the net. It's not ready for prime time, but when it is I'll post the code here. It's about 20 lines of code, excluding blank lines and comments.

The bankruptcy filing is for chapter 11, which means that Giga-Watt is going to try to negotiate with their creditors to continue operations in some manner. If they had filed for Chapter 7 it would be a liquidation of assets to pay creditors.

I hope SEC will investigate their file for bankruptcy with care because there are red flags. According to media reports a company worth of millions with equipment of few less than $55 k trying to move on this simply. Once again lot of people got victim of another mining farm. Mining at farm level isn't good for small investors at all this is becoming more clear after every incident.

The co-founders of Cryptonomos include Andrew Kuzenny, Eduard Khaptakhaev, and Leonid Markin. Oleg Poskotin is the CEO, while Olesya Egozina is the CPO and Zeev Kirsh is the legal counsel. Key members of the team at Cryptonomos have over a decade of experience.

“The corporation is insolvent and unable to pay its debts when due,” read the minutes of a special meeting of the shareholders of Giga Watt, which was held on Nov. 18. “The corporation and its creditors would best be served by reorganization of the corporation under Chapter 11 of the Bankruptcy Code.”

The meeting was called by Andrey Kuzenny, a director owning more than 10 percent of the mining firm.